Consortium of SGX-listed companies to franchise Hilton hotel in UK

SINGAPORE (April 7): A consortium of locally listed companies have entered into a franchise agreement with hotel chain operator Hilton to build a 192-bedroom hotel in Leeds, UK, to be operated under the Hampton by Hilton brand.

Operations are expected to start in late 2019.

The consortium comprises four companies, namely: property developer Heeton Holdings; construction group Lian Beng; construction, property development and property investment group KSH Holdings; as well as ground engineering specialist Ryobi Kiso.

In a jointly-issued release on Friday, the companies explain that the new hotel is part of the first phase of a “new landmark regeneration project being developed by the consortium that is currently under construction”.

Says Choo Chee Onn, executive chairman and managing director of KSH: “With Hilton’s management expertise and extensive network, coupled with the development’s strong locational attributes in Leeds’ city centre, we believe the hotel will resonate well with both leisure and business travellers upon its launch.”

“We are pleased with the progress of our joint hotel development in Leeds, and are delighted to have crossed another highlight in the development process. Having Hilton, a world-renowned brand in hospitality on board, will definitely lift the stature of our new hotel,” adds Lian Beng’s executive chairman and managing director, Ong Pang Aik.

Shares of Heeton, Lian Beng, KSH Holdings and Ryobi Kiso closed at 42 Singapore cents, 61 Singapore cents, 74 Singapore cents and 19 Singapore cents respectively. — theedgemarkets.com.sg

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from TheEdgeProperty.com http://www.theedgeproperty.com.my/content/1114799/consortium-sgx-listed-companies-franchise-hilton-hotel-uk

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